Piper Sandler Issues Positive Forecast for Bloom Energy (NYSE:BE) Stock Price

Bloom Energy (NYSE:BE) had its target price raised by analysts at Piper Sandler from $20.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Piper Sandler’s price objective points to a potential upside of 19.57% from the stock’s current price.

A number of other equities research analysts also recently commented on the stock. Marathon Capitl raised shares of Bloom Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Morgan Stanley increased their target price on shares of Bloom Energy from $20.00 to $28.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial dropped their target price on shares of Bloom Energy from $13.00 to $12.00 and set a “hold” rating on the stock in a research report on Wednesday, October 16th. Royal Bank of Canada increased their target price on shares of Bloom Energy from $15.00 to $28.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Robert W. Baird dropped their target price on shares of Bloom Energy from $18.00 to $15.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $18.08.

Bloom Energy Stock Up 4.8 %

Bloom Energy stock traded up $1.15 during mid-day trading on Friday, reaching $25.09. 2,715,607 shares of the company’s stock were exchanged, compared to its average volume of 6,465,428. The company has a market cap of $5.74 billion, a P/E ratio of -44.80 and a beta of 2.71. Bloom Energy has a twelve month low of $8.41 and a twelve month high of $25.24. The company has a quick ratio of 2.33, a current ratio of 3.36 and a debt-to-equity ratio of 3.09. The company has a fifty day moving average of $11.91 and a 200-day moving average of $12.61.

Insider Activity at Bloom Energy

In related news, insider Shawn Marie Soderberg sold 1,289 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $24.56, for a total value of $31,657.84. Following the completion of the sale, the insider now owns 168,561 shares in the company, valued at $4,139,858.16. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 8.81% of the company’s stock.

Hedge Funds Weigh In On Bloom Energy

Several hedge funds have recently added to or reduced their stakes in BE. Russell Investments Group Ltd. increased its holdings in Bloom Energy by 99,266.7% during the 1st quarter. Russell Investments Group Ltd. now owns 146,069 shares of the company’s stock valued at $1,642,000 after acquiring an additional 145,922 shares in the last quarter. Vanguard Group Inc. lifted its position in Bloom Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 19,685,235 shares of the company’s stock valued at $221,262,000 after buying an additional 156,434 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Bloom Energy by 6.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 116,882 shares of the company’s stock valued at $1,314,000 after buying an additional 6,902 shares in the last quarter. Tidal Investments LLC acquired a new position in Bloom Energy during the first quarter valued at approximately $370,000. Finally, Comerica Bank lifted its position in Bloom Energy by 222.8% during the first quarter. Comerica Bank now owns 23,884 shares of the company’s stock valued at $268,000 after buying an additional 16,484 shares in the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.

Bloom Energy Company Profile

Bloom Energy Corporation designs, manufactures, sells, and installs solid-oxide fuel cell systems for on-site power generation in the United States and internationally. The company offers Bloom Energy Server, a solid oxide technology that converts fuel, such as natural gas, biogas, hydrogen, or a blend of these fuels into electricity through an electrochemical process without combustion.